The Middle East and Africa fragrance ingredients market size is expected to reach USD 2.70 billion in 2024 and reach USD 3.52 billion by 2029, growing at a CAGR of 5.462% from 2024 to 2029.
The fragrance ingredients market is expected to show evident potential in the forecast period. The market continues to gain momentum with the rise in demand for personal as well as other consumer related products. This trend built momentum after the regulation, REACH was legislated in the European Union.
Fragrances are an explicit blend of synthetic as well as natural ingredients. A single scent may contain as few as a dozen to as many as a couple of hundreds of ingredients or aroma chemicals in calibrated but minute amounts. These ingredients are usually used in products such as cosmetics, fine fragrances, soaps, detergents, etc.
The Industry has witnessed a rise in the demand for natural fragrance ingredients recently, hence gaining interest from different companies in the market. Other important drivers for the fragrance ingredients market include changing consumer preferences, increasing demand for cleaning products, and significant advancements in technology.
On the other hand, the market is facing some challenges and restraints as well, which include, expensive research and development and compliance with quality and regulatory standards. Concerns in relation to Synthetic products have also been one of the major factors holding back the market from its actual potential.
The essential oils segment accounted for the largest market share based on segmentation by type and have twice the market share as that of aroma chemicals.
On the basis of application, the market is dominated by soaps and detergents, and on the other hand, cosmetics and toiletries are expected to have the maximum growth rate in the coming years.
Some of the major companies leading the Middle East & Africa market share include Firmenich International SA, BASF SE, Frutarom Industries Ltd., International Flavors and Fragrances Inc., Givaudan SA, Mane SA, Symrise AG, Robertet SA, Takasago International Corp, T. Hasegawa Co. Ltd.
Frequently Asked Questions
As per the market data forecast the Middle East and Africa fragrance ingredients market size is expected to reach USD 2.70 billion in 2024 and reach USD 3.52 billion by 2029.
The essential oils segment accounts for the largest market share in the Middle East and Africa fragrance ingredients market.
Firmenich International SA, BASF SE, Frutarom Industries Ltd., International Flavors and Fragrances Inc., Givaudan SA, Mane SA, Symrise AG, Robertet SA, Takasago International Corp, T. Hasegawa Co. Ltd. These are market players that dominate the Middle East and Africa fragrance ingredients market.
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